Markets
Source: SeekingAlpha.com
Economic Calendar
https://www.investing.com/economic-calendar/
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S&P 500
Prior Session was Cycle Day 2 (CD2): Normal CD2 unfolded for this session, as price flip-flopped throughout the day, testing upper and lower zone edges. End of the day ramp by the bulls propelled price to close near upper end of range. Range was 48 handles on 951k contracts exchanged.
…Transition from Cycle Day 2 to Cycle Day 3
This leads us into Cycle Day 3 (CD3): Momentum has pushed price higher to fulfill CD3 Penetration Level (4616.50) during overnight trade activity. Price will need to hold above the late day spike (M-Period) for acceptance.Violation back below P-VAH (4692) would negate the late day move. As such, estimated scenarios to consider for today’s trading.
1.) Price sustains a bid above 4705, initially targets 4712 – 4716 zone.
2.) Price sustains an offer below 4705, initially targets 4695 – 4690 zone.
*****The 3 Day Cycle has a 91% probability of fulfilling Positive Cycle Statistics covering 12 years of recorded tracking history.
PVA High Edge = 4695 PVA Low Edge = 4675 Prior POC = 4688
Range Projections and Key Levels (ES) March 2022 (H) Contract
HOD ATR Range Projection: 4774; LOD ATR Range Projection: 4653; 3 Day Central Pivot: 4682; 3 Day Cycle Target: 4730; 10 Day Average True Range 70; VIX: 19
Nasdaq 100 (NQ)
Today is Cycle Day 3 (CD3)…Price has extend the prior session’s late day spike into the close, fulfilling CD3 Penetration level (16372) during overnight trade activity. Prior range was 201 handles on 353k contracts exchanged. As such, there are two estimated scenarios to consider for today’s trading.
PVA High Edge = 16297 PVA Low Edge = 16206 Prior POC = 16250
Bull Scenario: IF Bulls sustain a bid above 16372, THEN initial upside estimate targets 16405 – 16410 zone.
Bear Scenario: IF Bears sustain an offer below 16372, THEN initial downside estimate targets 16345 – 16335 zone.
Range Projections and Key Levels (NQ) March 2022 (H) Contract
HOD ATR Range Projection: 16630; LOD ATR Range Projection: 16106; 3 Day Central Pivot: 16285; 3 Day Cycle Target: 16466; 10 Day Average True Range: 308; VIX: 19
Trade Strategy: Our tactical trade strategy will simply remain unaltered…We’ll be flexible to trade both long and short side from Decision Pivot Levels. Continue to focus on Bull/Bear Stackers and Premium/Discounts. As always, remaining in alignment with dominant intra-day force increases probabilities of producing winning trades.
Stay Focused…Non-Biased…Disciplined ALWAYS USE STOPS!
Good Trading…David
“Knowing is not enough, We must APPLY. Willing is not enough, We must DO.” –Bruce Lee
*****This trade strategy report is disseminated for “education only” and should not be viewed in any way as a recommendation to buy or sell futures products.”
PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS
IMPORTANT NOTICE! No representation is being made that the use of this strategy or any system or trading methodology will generate profits. Past performance is not necessarily indicative of future results. There is substantial risk of loss associated with trading securities and options on equities. Only risk capital should be used to trade. Trading securities is not suitable for everyone.
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